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DYOR (Do Your Own Research): Common Crypto Term

One of the most common idioms in the world of cryptocurrencies is DYOR "Do your research", "Do Your Own Research". Let's find out what it means.

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When it comes to choosing the  cryptocurrencies  that interest you, one of the most common idioms in the world of cryptocurrencies is  Do Your Own Research”: DYOR. 

This is because  buying a cryptocurrency  in such a vast panorama of different types of projects and cryptocurrencies is a very personal matter.

Your choice could be based on its  market capitalizationits notoriety, its stability or, conversely, its volatility, or on  the project and uses in the real world of the project  that is behind a cryptocurrency.

Searching for information on the web, and then doing your research ( DYOR ), may seem easy but it’s not.

As you well know, it often happens that you come across untrue news or fake news and the world of cryptocurrencies is no exception.

It is therefore important to look for the information we need for ourselves and not rely on a single voice.

The plurality of information and sources can certainly give us a more truthful picture of the situation and prospects of a cryptocurrency (as well as in all other areas).

The DYOR technique is useful in reducing the number of uninformed investors on the subject of cryptocurrencies and encourages you to research and understand a cryptocurrency before investing in it.

We at Nairatalktoday are a point of reference in the crypto sector in Nigeria – both for newbies and experts – but at the same time we still recommend that you broaden your horizons and seek out as much information as possible.

DYOR, do your research: democratization of knowledge, plurality and quality of information, transparency are our mantra.

 

Always keep in mind that there are also practices that aim to trick you into buying this or that cryptocurrency.

Shilling is a practice based on promoting one cryptocurrencies on social media with the aim of increasing their purchase and raising the price.

It’s not always easy to distinguish from an unbiased post, even when the article or post was written by industry professionals. 

Sybil Attacks are also very common on social platforms like Reddit, Twitter and Facebook. These are people who for self-interest quickly create multiple fake accounts to trick investors into buying a cryptocurrency based on a “popular” post.

Again, it’s not always easy to spot fake accounts and so it’s critically important to stay skeptical and do your own research.

What is our advice on what to do before buying a cryptocurrency?

 

Make your choice yourself, research thoroughly, and don’t rely on anyone’s suggestions.

In one word:  DYOR!

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